PRICE REDUCED! A great opportunity to build and hold. The projected return on investment will be 7%, projected sales price will be 7.4m, and projected cash flow collected will be approximately 1.348m within 5 years. We are pleased to present the opportunity to acquire a ready-to-issue ("RTI") development for a modern 15 unit building in prime Toluca Lake. The building is designed with on-grade parking and 3 floors of five units each (mirrored floorplans) for quick and easy construction. The project's building plans have received all LADBS approvals and clearances, so it is benefitted by a ready-to-issue building permit to allow for construction to commence on the day after close of escrow. The building consists of (13) one bedroom/one bathroom market rate units (no rent control!) and (2) two bedroom/one bathroom income restricted units. The units range from 579 SF - 867 SF, with an average of 709 SF. The building will be built on an already pancake flat 9,100 SF infill lot. The building is designed with luxury amenities: ±1,600 SF of private rooftop deck, views, balconies, bicycle storage, controlled access, elevator, security system, washer/dryer, and 15 parking spaces. The property is located near new retail & residential development projects and within proximity to major transportation hubs. Buyer to independently verify the accuracy of all information through personal inspection & with appropriate professionals.